Emmis Communications post loss on radio weakness

LONDON (MarketWatch) -- Emmis Communications
EMMS, -0.26%
said it swung to a loss of $1.94 million, or 5 cents a share in the first quarter ending May 31, with revenue down 3% to $87.3 million. From continuing operations, it lost 7 cents a share, the same as in the year-ago quarter. Analysts polled by Thomson Financial had expected a 9 cents a share loss on revenue of $85 million. "As expected, weakness in our radio division persisted, and we will continue to face challenges as we look for the changes we've implemented in our largest markets to gain momentum," CEO Jeff Smulyan said in a statement.

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